$ARCB

ARKANSAS BEST CORP /DE/

CIK:0000894405|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
CONSOLIDATED STATEMENTS OF OPERATIONS
REVENUES	$ 1,184,533	$ 1,022,256	$ 2,183,319	$ 1,989,333
OPERATING EXPENSES	1,205,156	984,947	2,200,512	1,945,394
OPERATING INCOME (LOSS)	(20,623)	37,309	(17,193)	43,939
OTHER INCOME (COSTS)
Interest and dividend income	906	1,037	1,582	2,187
Interest and other related financing costs	(3,391)	(2,956)	(7,679)	(5,711)
Other, net	2,152	578	1,000	(273)
Total other income (costs)	(333)	(1,341)	(5,097)	(3,797)
INCOME (LOSS) BEFORE INCOME TAXES	(20,956)	35,968	(22,290)	40,142
INCOME TAX PROVISION (BENEFIT)	(7,132)	10,159	(7,429)	11,202
NET INCOME (LOSS)	$ (13,824)	$ 25,809	$ (14,861)	$ 28,940
EARNINGS PER COMMON SHARE
Basic (in dollars per share)	$ (0.62)	$ 1.12	$ (0.67)	$ 1.25
Diluted (in dollars per share)	$ (0.62)	$ 1.12	$ (0.67)	$ 1.25
AVERAGE COMMON SHARES OUTSTANDING
Basic (in shares)	22,348,772	22,944,228	22,344,449	23,070,812
Diluted (in shares)	22,348,772	23,008,707	22,344,449	23,146,609

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
OPERATING ACTIVITIES
Net income (loss)	$ (14,861)	$ 28,940
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	83,929	74,490
Amortization of intangibles	5,056	6,400
Share-based compensation expense	4,720	6,162
Provision for losses on accounts receivable	2,257	1,402
Change in deferred income taxes	(37,989)	(187)
(Gain) loss on sale of property and equipment	(1,784)	42
Asset impairment charges	85,266
Change in fair value of contingent consideration		(2,650)
Changes in operating assets and liabilities:
Receivables	(68,517)	3,866
Prepaid expenses	10,651	9,744
Other assets	(2,315)	(1,396)
Income taxes	26,652	9,130
Operating right-of-use assets and lease liabilities, net	(15)	(11,421)
Accounts payable, accrued expenses, and other liabilities	45,229	(39,486)
NET CASH PROVIDED BY OPERATING ACTIVITIES	138,279	85,036
INVESTING ACTIVITIES
Purchases of property, plant and equipment, net of financings	(22,388)	(42,007)
Proceeds from sale of property and equipment	6,095	6,142
Proceeds from sale of short-term investments		5,236
Capitalization of internally developed software	(7,275)	(6,268)
Other investing activities		1,075
NET CASH USED IN INVESTING ACTIVITIES	(23,568)	(35,822)
FINANCING ACTIVITIES
Borrowings under credit facilities		25,000
Payments on long-term debt	(52,679)	(35,526)
Net change in book overdrafts	(717)	(2,021)
Deferred financing costs	(17)	(19)
Payment of common stock dividends	(5,365)	(5,543)
Purchases of treasury stock	(8,171)	(41,737)
Payments for tax withheld on share-based compensation	(3,941)	(1,938)
NET CASH USED IN FINANCING ACTIVITIES	(70,890)	(61,784)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	43,821	(12,570)
Cash and cash equivalents at beginning of period	102,030	127,444
CASH AND CASH EQUIVALENTS AT END OF PERIOD	145,851	114,874
NONCASH INVESTING ACTIVITIES
Equipment financed	44,372	62,791
Accruals for equipment received	10,186	14,586
Lease liabilities arising from obtaining right-of-use assets	$ 22,228	$ 41,978

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
CURRENT ASSETS
Cash and cash equivalents	$ 145,851	$ 102,030
Short-term investments	22,580	22,204
Accounts receivable, less allowances (2026 - $8,884; 2025 - $7,763)	453,782	370,969
Other accounts receivable, less allowances (2026 - $713; 2025 - $656)	9,206	26,295
Prepaid expenses	38,748	49,399
Prepaid and refundable income taxes	27,483	45,405
Other	8,836	9,761
TOTAL CURRENT ASSETS	706,486	626,063
PROPERTY, PLANT AND EQUIPMENT
Land and structures	574,861	566,071
Revenue equipment	1,212,564	1,201,386
Service, office, and other equipment	312,336	363,340
Software	191,444	190,673
Leasehold improvements	43,349	41,531
TOTAL PROPERTY, PLANT AND EQUIPMENT, Gross	2,334,554	2,363,001
Less allowances for depreciation and amortization	1,242,195	1,219,564
PROPERTY, PLANT AND EQUIPMENT, net	1,092,359	1,143,437
GOODWILL	304,753	304,753
INTANGIBLE ASSETS, net	37,716	69,391
OPERATING RIGHT-OF-USE ASSETS	215,292	220,157
DEFERRED INCOME TAXES	16,770	9,303
OTHER LONG-TERM ASSETS	78,909	79,558
TOTAL ASSETS	2,452,285	2,452,662
CURRENT LIABILITIES
Accounts payable	198,228	154,487
Income taxes payable	8,811
Accrued expenses	391,794	378,125
Current portion of long-term debt	94,484	87,882
Current portion of operating lease liabilities	36,263	36,394
TOTAL CURRENT LIABILITIES	729,580	656,888
LONG-TERM DEBT, less current portion	121,065	135,974
OPERATING LEASE LIABILITIES, less current portion	207,947	204,333
POSTRETIREMENT LIABILITIES, less current portion	13,700	13,696
DEFERRED INCOME TAXES	80,898	111,580
OTHER LONG-TERM LIABILITIES	31,502	34,470
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Common stock, $0.01 par value, authorized 70,000,000 shares; issued 2026: 30,579,951 shares; 2025: 30,489,886 shares	306	305
Additional paid-in capital	338,861	338,083
Retained earnings	1,464,152	1,484,378
Treasury stock, at cost, 2026: 8,232,856 shares; 2025: 8,140,368 shares	(534,777)	(526,606)
Accumulated other comprehensive loss	(949)	(439)
TOTAL STOCKHOLDERS' EQUITY	1,267,593	1,295,721
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 2,452,285	$ 2,452,662